UBA Staff Bags 5 Years Jail Term For Fraud

An employee of United Bank for Africa, UBA, Benin City, Edo State branch has been sentenced to five years imprisonment for defrauding customers of the bank. The UBA staff, Osarere Osemwengie, was sentenced by Chief Magistrate Peter Edo-Asemota of an Oredo Magistrate’s Court, in Benin City without an option of fine. One of the charges brought Osemwengie read, “that you, Osasere Osemwengie, on August 24, September 17 and November 19, 2009, at UBA, Airport Road, Benin, forged and signed UBA branch certificates of deposit, knowing same to be false.” The police said Osemwengie collected millions of naira from some unsuspecting customers of UBA under the guise of helping them to invest in the bank.